Hazlitt’s Satire

So you can earn but not invest? That is it?

We The Individuals

Hazlitt_B&WHenry Hazlitt’s satire is, as always, amusing and palpable:

[Keynes has told us] the people who have earned money are too shortsighted, hysterical, rapacious, and idiotic to be trusted to invest [money] themselves. The money must be seized from them by the politicians, who will invest it with almost perfect foresight and complete disinterestedness (as illustrated, for example, by the economic planners of Soviet Russia). For people who are risking their own money will of course risk it foolishly and recklessly, whereas politicians and bureaucrats who are risking other people’s money will do so only with the greatest care and after long and profound study. Naturally the businessmen who have earned money have shown that they have no foresight; but the politicians who haven’t earned the money will exhibit almost perfect foresight. The businessmen who are seeking to make cheaper and better than their competitors the goods that consumers wish…

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